Davao City yields P3 billion investment pledges

𝐃𝐚𝐯𝐚𝐨 𝐂𝐢𝐭𝐲 𝐲𝐢𝐞𝐥𝐝𝐬 𝐏3 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐩𝐥𝐞𝐝𝐠𝐞𝐬

The Davao City Investment Promotions Center (DCIPC) bared that over P3 billion worth of investment pledges in the form of new businesses and trade agreements had been promised to Davao City in 2023.

“Most are foreign investments. When we say pledges, it means they signify their interest in investing in Davao City and naga-ingon sila kung pila ang investment or the amount they would like to put in the city of Davao,” DCIPC Officer-in-Charge April Dayap said in an interview with the City Information Office on Monday.

“These are opportunities na pwede natong i-follow up so that they will really put their investments here,” she added.

Dayap said most of these pledges are for various industries, including health, Business Process Outsourcing (BPO), tourism, social enterprise, manufacturing, and agribusiness industry.

“Ang good thing ana ilang interest is very, very high. Ang ilang interest in putting their investments here and their capitalization here is taas gyud kayo. Ang ilang confidence to the city is naa gyud (The good thing is their interest is very very high. Their interest in putting their investment and capitalization here is really high. And they really do have confidence in the city),” said Dayap

The strong leadership of the local government, Dayap said, is one the main reasons why investor confidence had gone up. Aside from this, the DCIP’s investment roadshows, she said, also played a vital role in introducing Davao City’s economic potentials to suitable investors.

Two of the biggest ventures set to be realized from these pledges is a P255-million parking building and a P45-million adhesive tapes manufacturing project.

Aside from the foreign capital that can come into the city, Dayap said these pledges also promise more employment opportunities. CIO